Landru

Got my vote, Mayor.

Phanni

I rarely buy a new car. I can afford new, however, I just have lived so long 'scrimping' that it's become habit. I have no problem with those that buy new, someone has to break in my next ride. Used cars depreciate too, I just don't care.

Vet Interested

Well said. A math major Skid Row Joe is not. A ***** however is putting it lightly!

Always Red Dave

Resale just keep it 5 years and it will even out.

LIStingray

Having it built generally doesn't cost more than buying a current year - I got 12% off my 2018 GS that was ordered from MacMulkin and built on day 1 (6/2/17) of 2018 production, add in my $3,000 in GM points and the $750 GM bonus at the time, and the final deal was about 17% ($12,600) off its $73,200 MSRP. The big discounts are on cars that are more than 1 model year old, so buying a 2017 now would be 20-22% off MSRP - and ordered 2019 would be at 11-13% off MSRP (except the ZR1, which is at MSRP).

Phanni

Well,,, aint you special?
Most folks that buy new, are making payment too, a really horrible financial decision.

VaydorVette1

When the Dealers are setting New prices just a few $K over the mean Used price.. it really makes buying Used questionable.

Yea I thought that was an odd way of looking at it too.

Ditto's, without them it would be a very different market. THANKS new vette buyer guys!

Seriously mass-produced. Gotta take that into consideration.

onyx_z71

At 1.64%/72 the money is better spent on a CD than paying cash for a car not to mention other advantages like improving overall credit score which helps with non credit expenses like reduced homeowners insurance rates.

dreamingat30fps

While this is true, I'm sure it's also true that 99% of the people who finance are not doing so because they are getting a great rate and investing the cash.

Dcregar

I agree with you. I just bought a 2019 Grand Sport Coupe. I like to be the first *** in the seat!!!

Kent1999

99% of the general population think ANY money spent on a Corvette is foolish. So, what is your point?

Corvette buyers are not a random selection of people. Most of them are much better off financially than average, and can AFFORD to spend on a car that is mostly recreational or for a 'hobby', even if some of that cost is <gasp!> interest.

If financing, the cost of the car includes the interest paid. If a Corvette buyer thinks the amount they pay (including interest) is worth it -- what does it matter if it is financed? When other people start paying my bills, then they can cast aspersions as to how I spend my own money.

The hoary old "if you can't pay cash, you can't afford it" mindset is outdated and ignorant. Credit is not "universally bad", but is a tool that can be used for good or evil, depending on the user.

mschuyler

This thread has devolved from OP's question asking us to help him understand depreciation to the usual, "I am smarter than you about finances" schtick. OP's initial 'evidence' would suggest he is exaggerating. He claims "thousands!" of dollars of depreciation, but it looks like he is comparing MSRP with used prices. He needs to take about 12% off those MSRP prices before he starts comparing. He also doesn't give a single exact example. But it turns out the whole thing is a set-up. OP needs no help "understanding" depreciation at all. He has already decided that people who bail with low miles are "stupid" and people who take advantage of these low mileage cars at steep discounts are "smart" and he will argue with anyone who claims anything differently even though he has absolutely no idea why these people bailed. Cars have been depreciating for 100 years now. It's not a mystery. No one really needs help understanding depreciation. It's just an excuse to start an argument. To OP, spending the least amount of money for "X" is a win--and nothing else counts. He is equating "low miles" with "no miles" and completely ignoring the risk associated with "low miles" and a shorter warranty and the unlikelihood of getting the exact car he might prefer. He's ignoring his compromises. In other words, he thinks he's getting "X" for a better price, but what he is really getting is "not quite "X" or "X minus your compromises." Is that valid? Sure it is. I applaud you folks for thinking you are so smart. You're single and only criteria is money and there is no doubt whatsoever that if that is your criteria, you have definitely won. Congratulations!

direct007

I understand the many perspectives mentioned in this thread. Personally, I like buying new to avoid the aggravation that a used car may bring with it and get exactly what I want.

Ironically, I was just discussing last night while driving my Vette with a friend who mentioned that she doesn’t see many Corvettes on the road. I laughed and said that’s because people buy them to park in their garage and wipe with a diaper every so often. To each is own. Just be happy there are those that hardly drive their vette and willing to eat the depreciation for you to get a great deal.

dreamingat30fps

Chill, I don't care if you bought new or used, financed, paid cash, traded for sexual favors. It's a forum I'm just shooting the ****. No need to get all wound up.

Kent1999

Yup -- no wind up here. Just all discussion.

davanz

USA1 I agree with your post. With some things in life what something is "worth" just is not measured with math. I too am in the gang that sometimes buys new cars just because that's what I want. A NEW car. I have also bought plenty of used cars thru the years, some were great, some were mistakes I couldn't get rid of fast enough.

Some of my friends bring this up at times, the question of how much are you loosing buying the vehicle new as opposed to used. My reply is that when I sell, I will get SOMETHING back. How much did you get back when you spent money on your last cruise, vacation, or even a movie?

Some things we spend, (or lose), money on simply because that's what we want. Like a friend once said, "I try to be sure that I am the first one that farts in my car".

batmitestar

Phanni

Let's assume you get 3% interest on your CD, 25% of that goes to Uncle Sam and a fair amount to the state. I am in the 30% tax bracket, so the numbers are a compromise. $100,000 CD gets you#$3000, $750 goes to the Feds, and likely $250 goes to the State. Interest on you loan will be a large number than the bottom line of the loan, or at least real close. Calculate the final amount you pay for the car (including interest, taxes etc.). I know this will escape most "gotta have it now" folks, but facts is facts. You pay $100,000 (total)for a $75,000 car that is worth $55,000 or less in three years.

Borrowing money for a depreciating asset is a bad financial decision, no matter what you think. Too many people are upside down on their cars, don't be one of them.

Mayor111

Can we get back on track with the post...Cmon...what does this have to do with used car prices? This post is just utterly pointless...

saleen556